Whether you choose to retire before age 65 or are forced to retire due to health issues or some family circumstances, there is a question you must address. What will you do about health insurance until you become eligible for Medicare? Many Americans retire before the typical retirement age, whether by choice or need. Unfortunately, […]
Planning to Retire Before Age 65? Here’s What You Need to Know Read More »
It’s crucial that retirees take full advantage of every available tax break they can. This is especially true if you’re on a fixed income; you need that money to last, so every cent counts. But holding on to your money during retirement is easier said than done. It’s easy to miss valuable tax-saving opportunities (i.e.,
Tax Breaks Retirees Can Use in 2024 Read More »
With tax season rapidly approaching, the IRS is taking steps to remind taxpayers how they can prepare to file their 2023 federal tax return. A little advance work now can help you have the paperwork ready to file your returns quickly and accurately. As part of this effort, the IRS has created pages outlining things
Getting Ready For Tax Season Read More »
Believe it or not, many Americans choose to continue working in some capacity during retirement. It may seem oxymoronic, but having a part-time retirement job could be a viable tactic for generating more retirement income. Remember: for a generally healthy person suffering from no chronic illnesses, their life expectancy could be as high as 92+
Benefits of Getting a Retirement Job Read More »
How much money do you need to save for retirement? How much income will you need each year? As you approach retirement, you will want to evaluate what options you have when it comes to your income. During retirement, you will receive income from Social Security benefits, as well as possibly retirement account distributions or
The $1000 Rule and the 4% Rule of Retirement Read More »
It’s important to save up as much money as you can before retirement. That way, once you retire, you don’t end up overly dependent on Social Security. Even if you get the maximum out of your Social Security benefits, they only replace around 40% of your pre-retirement income. And many seniors need more than that
What You Need to Know About 401(k)s in 2024 Read More »
What Would a Government Shutdown Mean For You? The last day of September was the last chance for Congress to fund the government. Thankfully, a last-minute agreement was passed by the House and Senate to keep the government funded through to November 17th, narrowly avoiding the expiration of funding and a resulting government shutdown. But,
What Would a Government Shutdown Mean for You? Read More »
What is Prolonged Grief Disorder? When we lose someone close to us, it’s obviously normal to feel grief for a long time afterward, even years following the death. But, it’s an important distinction between this and what mental health experts call “prolonged grief disorder” (PGD). For a select group of people, the feeling of intense
Prolonged Grief Disorder Read More »
Should You Continue to Work Into Your 70s? An ever-growing number of Americans have been working past the traditional retirement age. Either because they can’t afford to retire sooner (an unfortunate possibility) or by choice. It does come with some benefits if you continue working into your 70s. Today, we’ll discuss some possible reasons why
Working Into Your 70s Read More »
The Future of Social Security The Social Security Administration periodically evaluates the program’s financial health and adjusts various factors to ensure its long-term sustainability. However, many reports suggest that it will suffer a benefit reduction. It’s no surprise, therefore, that most millennials say they won’t be factoring Social Security benefits into their retirement strategy. They’ve
The Future of Social Security Read More »
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